Lender MIA

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by a searcher
in Dallas, TX, USA

3yrs ago

Lender MIA

Anyone ever have their lender go missing in action?

I selected a lender and informed him he's the one I want to work with and asked about getting pre-qualified for an SBA loan. I completed the documents he ask me to complete for the loan and informed him about a deal I'm interested in and that I'm meeting with the sellers next week and would like his feedback. Haven't heard from the guy in 3 days!

Obviously I have a back-up lender that I'm now working with, but that left a bad taste in my mouth.

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reply by an intermediary 3yrs ago
from Wisconsin Lutheran College in Brookfield, WI, USA

In my experience when a lender goes MIA it means he either doesn't like the deal, or doesn't like something about you as a buyer. The lender just doesn't have the courage to pick up the phone and tell you. As ^redacted‌ states, work with multiple lenders. It keeps them honest and keeps you away from situations where this may harm a deal.

reply by a professional 3yrs ago
from The University of Texas at Austin in Austin, TX, USA

Hey redacted‌ - That’s terrible. Good that you have a backup. If you want to add someone else solid to your roster and who's dependable, I've got a guy that's an expert. Want his info?